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Mashreq Goes Live with Polaris’ Integrated Intellect® Global Transaction Banking Platform



  Mashreq Goes Live with Polaris’ Integrated Intellect® Global Transaction
  Banking Platform

  World’s First Implementation of an Integrated Transaction Banking Platform
                      Across Both Front and Back Office

Business Wire

CHENNAI, India & NEW YORK & LONDON & DUBAI, UAE -- March 7, 2013

Polaris Financial Technology Ltd (POLS.BO), a leader in products, solutions
and services that enable unprecedented operational productivity for the global
Financial Services industry, today announced that Mashreq, one of UAE's
leading financial institutions, has gone live with Polaris’ revolutionary
Intellect^® Global Transaction Banking (GTB) platform. The integrated cash
management platform, complete with portal and backend modules, will enable the
Bank to offer its customers’ transaction banking services on a single platform
in multiple countries in the Region.

With Polaris’ multi-country and multi-currency enabled Intellect GTB solution,
Mashreq can offer new products such as liquidity and trade via a unified
portal. The solution facilitates a global transaction banking implementation
on a single instance of the application, improving the Bank’s ability to scale
up transaction banking operations by three times their current capacity.

Speaking on the occasion, Karim Labadi, Head of Global Transaction Services
(GTS), Mashreq said, “Corporate customers are now demanding convergence of
functionality, self service and management dashboards to manage their internal
treasury operations. Polaris’ state-of-the-art Transaction Banking portal
enables us to meet our objective of providing our corporate clients with
comprehensive transaction management through a single portal. At Mashreq, we
focus on the innovation aspect of all our financial solutions, as it is
significant in our business. Polaris’ strong presence in the Middle East, the
multiple references for Intellect in the region, along with their ability to
offer all products and services on a single complete platform made them the
ideal choice as our technology partner.”

Commenting on the successful implementation, K Srinivasan, Partner & Head -
India, Middle East & Africa, Polaris Financial Technology Ltd said, “We are
delighted that Mashreq has gone live with Intellect^® Global Transaction
Banking (GTB) platform. This is a single instance multi-country roll out of
the transaction banking platform. This engagement has taken our existing
relationship with Mashreq to a new level, increasing our visibility in the
corporate banking space in the Middle East. Our thought leadership in the
transaction banking space and our expertise in providing comprehensive
transaction management services strengthens our existing position in the GTB
space.”

The deployment at Mashreq is a complete Global Transaction Banking platform
comprising a full service corporate transaction unified portal including CFO
dashboards and back end product processors for corporate payments, collections
and liquidity. Through this portal, the Bank offers a single window to their
corporate clients for services related to accounts, payments, liquidity,
collections and trade. The solution enables Mashreq to offer its corporate
customers an integrated GTB platform comprising:

  * Core Account Services which include Enquiry, Scheduled Statements, Terms
    Deposit Processing, Cheque Book issuance and Enquiry on Cheque status and
    PDC
  * Payments Processor for Domestic Fund Transfer , Cross Border Fund
    Transfer, Salary Bulk Uploads, Standing Instruction, Local Wage protection
    system, Demand Draft and Pay Order issuance
  * Liquidity Processor for Sweeping & Notional Pooling
  * Collections & Receivables Processor for Cash Collection, Cheque
    Collection, Direct Debit, Vendor Management and Pay Plus for institution
    collection

Mashreq is a leading financial institution in the UAE, providing banking and
financial services to millions of customers and businesses since 1967, with a
growing retail presence in the UAE including Egypt, Qatar, Kuwait and Bahrain.

About Mashreq:
Mashreq is one of the UAE’s leading National Financial institutions. Founded
in 1967 as Bank of Oman, the bank has played a pioneering role in the
industry, particularly in retail banking. Among its many firsts, it was the
first to launch such products as travelers’ cheques, credit cards and ATMs.

Mashreq has received numerous international awards such as the Best Bank in
the UAE in 2008 from Euro money and various awards particularly for quality
management. According to independent research it has more ISO certifications
than any bank in the region by a wide margin. Its most recent acknowledgement
was Best Consumer Internet Bank in Qatar and Best Consumer Internet Bank
regionally by Global Finance Awards 2009.

As a leading financial Institution in the UAE, Mashreq aims to be world class
in every facet of its business, including its social responsibility to the
community it serves. Towards this goal the bank pays particular attention to
recruiting, training, developing and retaining UAE National employees. For
more information, please visit http://www.mashreqbank.com.

About Polaris Financial Technology Ltd:
Polaris Financial Technology Ltd (formerly known as Polaris Software Lab Ltd)
(POLS.BO) is a leader in Products, Solutions and Services that enable
unprecedented operational productivity for the global Financial Services
industry with its comprehensive portfolio of products and services. Polaris
has a talent strength of over 13,000 solution architects, domain and
technology experts. The company owns the largest set of Intellectual
Properties for a comprehensive product suite, Intellect^® Global Universal
Banking (GUB) M180. Intellect^® is the first pure play Service Oriented
Architecture (SOA) based application suite for Retail, Corporate, Investment
banking and Insurance.

Headquartered in Chennai, Polaris has offices in all global financial hubs,
including Bangalore, Belfast, Chennai, Chicago, Dhaka, Dublin, Dubai,
Frankfurt, Hong Kong, Ho Chi Minh City, Hyderabad, Kuala Lumpur, Lisle,
London, Madrid, Manila, Melbourne, Mississauga, Mumbai, Nairobi , Neuchatel,
New Delhi, New York (New Jersey), Paris, Pittsburgh, Pune, Riyadh, Santiago,
San Francisco, Seoul, Shanghai, Singapore, St. Germain En Laye, Sydney, Thane,
Tokyo, Toronto, Victoria, Wellington and Wicklow. For more information, please
visit http://www.polarisFT.com/.

Contact:

Polaris Financial Technology Ltd
Media:
Minal Sahani, +91 91766 26468
minal.sahani@polarisFT.com
or
Investors:
G. Sunanthy Devi, +91 8939933564
sunanthy.g@polarisFT.com
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